Agenda item

Report of Assistant Director of Finance / Assistant Director – Customer Focus

Purpose of report

To report to the committee the council’s performance, risk, and financial positions at the end of Quarter 2 2024-25.

Recommendations

The Executive resolves:

1.1     To consider and note the contents of the council’s performance, risk and finance Quarter 2 report.

1.2      To approve the updated Corporate Debt Policy (section 4.1.7 and Appendix 5)

1.3      To approve debt write offs totalling £43,660.32 (section 4.1.6 and Exempt Appendix 6).

1.4      To approve the reprofiling of capital projects beyond 2024/25 (section 4.2.3 and Appendix 1) and the subsequent update to the programme budget for this financial year 2024/25.

1.5      To note that Cherwell will be receiving £0.064m revenue grant funding from OCC for the Household Support Fund round 6. This follows up on round 5 that was spent supporting residents through the cost-of-living crisis. This funding will support the work presented at the last Overview and Scrutiny meeting in Cherwell’s Cost of Living plan.

1.6      To note the use of £0.050m of S106 funding approved under S151 delegated authority to deliver the remaining elements of the Outdoor Sports project at Whitelands Farm Sports Ground.

1.7      To note the additional information relating to capital overspends reported to Executive in the August (period 5) financial performance report (section 4.2.3 – 4.2.5)

1.8      To approve the removal of projects with budgets totalling £0.652m from the Capital Programme (section 4.2.8 and Appendix 7).

1.9      To approve the increase in the building control fees and charges for 2024/25 with immediate effect (Appendix 12).

Resolved

(1)          That the council’s performance, risk and finance Quarter 2 2024/2025 report be noted.

(2)          That the updated Corporate Debt Policy be approved.

(3)          That debt write offs totalling £43,660.32 be approved.

(4)          That the reprofiling of capital projects beyond 2024/25 and the subsequent update to the programme budget for this financial year 2024/25 be approved.

(5)          That it be noted that Cherwell District Council will be receiving £0.064m revenue grant funding from Oxfordshire County Council for the Household Support Fund round 6, which follows up on round 5 that was spent supporting residents through the cost-of-living crisis. This funding will support the work presented at the last Overview and Scrutiny meeting in Cherwell’s Cost of Living plan.

(6)          That the use of £0.050m of S106 funding approved under S151 Officer delegated authority to deliver the remaining elements of the Outdoor Sports project at Whitelands Farm Sports Ground be noted.

(7)          That the additional information relating to capital overspends in respect of Bicester East Community Centre and the Sunshine Centre reported to Executive in the August (period 5) financial performance report be noted.

(8)          That the removal of following projects with budgets totalling £0.652m from the Capital Programme be approved.

·          iTrent HR System Upgrades

·         Housing & UT Asset System

·         Retained Land

·         Expiring Energy Performance Certificates plus Associated Works

·         Energy Performance Certificates Government Implementation of target B – Strategic Plan

·         Car Park refurbishments

·         Car Parking Action Plan Delivery

(9)          That the increase in the building control fees and charges for 2024/25 with immediate effect (Appendix 12 to the report) be approved.

The Assistant Director of Finance and Assistant Director – Customer Focus submitted a report to the committee the council’s performance, risk, and financial positions at the end of Quarter 2 2024-25.

At the discretion of the Chairman, the Leader of the Opposition addressed Executive. In response to the Leader of the Opposition’s question regarding the low housing completion return, the Portfolio Holder for Planning and Development explained that 6791 houses had been approved but not yet delivered by developers. In response to a question regarding bad debt write off, the Assistant Director Finance confirmed all debt write offs were funded by the debt contingency.

Resolved

(1)            That the council’s performance, risk and finance Quarter 2 2024/2025 report be noted.

(2)            That the updated Corporate Debt Policy be approved.

(3)            That debt write offs totalling £43,660.32 be approved.

(4)            That the reprofiling of capital projects beyond 2024/25 and the subsequent update to the programme budget for this financial year 2024/25 be approved.

(5)            That it be noted that Cherwell District Council would be receiving £0.064m revenue grant funding from Oxfordshire County Council for the Household Support Fund round 6, which follows up on round 5 that was spent supporting residents through the cost-of-living crisis and this funding would support the work presented at the last Overview and Scrutiny meeting in Cherwell’s Cost of Living plan.

(6)            That the use of £0.050m of S106 funding approved under S151 Officer delegated authority to deliver the remaining elements of the Outdoor Sports project at Whitelands Farm Sports Ground be noted.

(7)            That the additional information relating to capital overspends in respect of Bicester East Community Centre and the Sunshine Centre reported to Executive in the August (period 5) financial performance report be noted.

(8)            That the removal of following projects with budgets totalling £0.652m from the Capital Programme be approved.

·        iTrent HR System Upgrades

·       Housing & UT Asset System

·       Retained Land

·       Expiring Energy Performance Certificates plus Associated Works

·       Energy Performance Certificates Government Implementation of target B – Strategic Plan

·       Car Park refurbishments

·       Car Parking Action Plan Delivery

(9)            That the increase in the building control fees and charges for 2024/25 with immediate effect as set out in the Annex to the Minutes (as set out in the Minute Book) be approved.

Reasons

The council actively and regularly monitors its performance, risk, and financial positions to ensure it can deliver its corporate priorities and respond effectively to emerging issues.

This monitoring takes place monthly for finance, so the council can identify potential issues at the earliest opportunity and put measures in place to mitigate them.

These updates are consolidated into a single report given the implications and interdependencies between them, and this is the summary for the end of Quarter 2 2024-25.

Alternative options

Option 1: This report summarises the council’s financial position up to the end of Quarter 2 2024-2025, therefore there are no alternative options to consider. Regarding the recommendations to approve the updated Corporate Debt Policy, reprofiling of capital projects, removal of projects from the Capital Programme and increase in building control fees and charges, Members could choose not to reject these requests, however, the requests are in accordance with the councils’ policies and financial procedure rules.